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"Dubai, an important U.S. ally in the Middle East, promised to tighten lax financial rules that allowed the 9/11 terrorists to launder their money there. Prompted partly by this promise, many large banks, including some in the United States, formally expressed their interest in investing in the new Dubai International Financial Centre, designed to diversify the country's oil-based economy. However, Simeon Kerr's investigation revealed that the Centre's chairman, and by extension its CEO, and a board member were involved in questionable inside property and construction deals that besmirched the Centre's reputation."